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2 years ago

A useful way of standardizing financial statements is to choose a and then express each item relative to the _.

1 answer:

4 0

The most useful way of standardizing financial statements is to choose a _base year,_ and then express each item in the period under review relative to the _amounts____ in the base year.

<h3>What are comparative financial statements?</h3>

Comparative financial statements compare a particular financial statement with previous statements. Previous financial statements are presented in side-by-side columns with the latest figures. With this, investors are able to track a company's progress over some periods and compare the company's financial results and performance with its industry competitors.

Thus, financial statements can be compared using financial ratios, which express the relationships between the various items within a financial statement, or using a base year.

Learn more about comparative financial statements and financial ratios here: brainly.com/question/9091091

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1. In each of the following situations, identify which of the twelve principles is at work

aleksklad [387]

Answer:

a. The true cost of something in its cost of opportunity

Explanation:

Opportunity cost is the cost which is defined as the cost or expense of one item which is lost in order to get the opportunity to do or to consume something else. In simple words, it is the value or the cost of the next best available alternative.

So, when the person select to bought the textbooks through Chegg instead paying the higher price for the same books through the bookstore. Under this situation, the principle applies is the cost of something in its opportunity cost.

8 0

3 years ago

A loan processing operation that processes an average of 7 loans per day. The operation has a design capacity of 15 loans per da

anyanavicka [17]

Answer:

a) 46.7, 80 b) 20, 60 c) yes

Explanation:

a) % utilization= utilization/design capacity × 100

= 7/15 × 100

= 46.7%

% efficiency= efficiency/design capacity × 100

= 12/15 × 100

=80%

b) Utilization= 2/10 × 100 = 20%

Efficiency= 6/10 × 100= 60%

c) A system with higher efficiency ratios will always have higher utilization as these systems will have lesses number of failures

6 0

3 years ago

Scrumptious Snacks Inc. manufactures three types of snack foods: tortilla chips, potato chips, and pretzels. The company has bud

beks73 [17]

Answer:

Results are below.

Explanation:

First, we need to calculate the number of processing hours:

Processing hours= (0.25*3,000) + (0.1*6,000) + (0.3*3,500)

Processing hours= 750 + 600 + 1,050

Processing hours= 2,400

Now, we can calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 207,000 / 2,400

Predetermined manufacturing overhead rate=$86.25 per processing hour

To allocate overhead, we need to use the following formula:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Tortilla chips= 86.25*75= 64,687.5

Potato chips= 600*86.25= 51,750

Pretzels= 86.25*1,050= 90,562.5

Finally, the unitary cost:

Tortilla chips= 64,687.5 / 3,000= $21.56

Potato chips= 51,750 / 6,000= $8.63

Pretzels= 90,562.5 / 3,500= $25.88

8 0

3 years ago

A rich relative has bequeathed you a growing perpetuity. the first payment will occur in a year and will be $ 3 comma 000$3,000.

MAVERICK [17]

A. For knowing today's value of the bequest we need to know the period of time.
When the first payment occure and how many payments were made.
b. Immediate value of bequest is $3,000 After one year it needto be 1.16*3,000=$3,480 Plus the second payment will be 1.04*3,000=$3,120

8 0

3 years ago

If one worker produces 15 cones of ice cream in an hour, two workers produce 25 ice cream cones, and three workers produce 30 ic

Setler [38]

Answer:

The marginal return of production of the second worker or marginal product of the second worker is 10 cones.

Explanation:

One worker can make 15 cones of ice cream in an hour.

Two workers can make 25 cones in the same time.

While three workers can make 30 cones in an hour.

The marginal return of the production of the second worker is the contribution of the second worker in the total output.

Marginal return

= 25 cones - 15 cones

= 10 cones

5 0

3 years ago

A useful way of standardizing financial statements is to choose a ____ and then express each item relative to the _____.

A useful way of standardizing financial statements is to choose a and then express each item relative to the _.